Episode #954

Would you buy a house for $100K? That’s right, just twentyfive percent of the median home price in America. Well, we found a couple who does just that, finding fixerupper properties that often cost less than six figures and turning them into eyecatching, headturning homes. They even argue that these cheap old homes are BETTER than the newerbuilt house flips that so many investors are targeting today. So, how do you find your next $100K home, and where do you start looking?

Elizabeth and Ethan Finkelstein, the brains behind HGTV’s “Cheap Old Houses” and the social media account by the same name with millions of followers, join us on today’s show. Elizabeth and Ethan love cheap old houses, but not for the reason you think. Most investors purely look at the numbers or the profit potential, but Elizabeth and Ethan see beyond that, fixing up old houses to not only collect the significant equity gain but restore communities and bring back longforgotten styles, materials, and looks.

They’ve bought houses for as cheap as $27,000 and turned them into homes anyone would dream of having. If you’re an investor without much capital and can get a little handy, these old houses could explode your portfolio. But who SHOULD be buying these cheap old houses? Stick around as Elizabeth and Ethan give their expert advice on what to DIY vs. hire out, which old pieces to keep, the best way for beginners to get started with little money, and the decades that built the BEST houses!

~~~~
Join BiggerPockets for FREE
https://www.biggerpockets.com/signup?...
~~~~
Expand Your Investing Knowledge With the BiggerPockets Books:
https://store.biggerpockets.com/?utm_...
~~~~
Find an InvestorFriendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Find InvestorFriendly Lenders:
http://biggerpockets.com/findlenders
~~~~
Property Manager Finder:
biggerpockets.com/findapm
~~~~
Hear Dave on the “On the Market” Podcast:
https://link.chtbl.com/OTM
~~~~
Watch Dave on the “On The Market” YouTube Channel:
   / @bponthemarket  
~~~~
Building Wealth with OLD Homes and How to Keep Tenants for Longer:
https://www.biggerpockets.com/blog/re...
~~~~
Connect with Elizabeth and Ethan:
Book: https://www.amazon.com/CheapOldHous...
Instagram: @cheapoldhouses or   / cheapoldhouses  
Who's Afraid of a Cheap Old House?: https://www.hgtv.com/shows/whosafrai...
~~~~
Connect with Dave:
BiggerPockets: https://www.biggerpockets.com/users/d...
Instagram: @thedatadeli or   / thedatadeli  

Show notes at: https://link.chtbl.com/BPRE


00:00 Intro

01:24 Why Cheap Old Houses?

05:16 $150K Houses!?

07:17 Rehabbing New vs. Old Houses

19:03 Who Should Do These Rehabs?

20:11 Best Ways to Get Started

23:38 DIY vs. Hiring it Out

27:47 Connect with Ethan and Elizabeth!